Bank Indonesia said the growth of the money supply in a broad sense ( M2 ) in October 2013 stood at Rp3.576 , 3 trillion, or 13 percent ( yoy ) , compared with M2 growth slowed in September 2013 at 14.6 per cent ( yoy ) .
Based on the components , slowing the growth of M2 is mainly derived from quasi money growth declining from 16 per cent ( yoy ) in the previous month to 13.4 percent ( yoy ) in October 2013 .
Meanwhile , another component of the growth of the money supply in the narrow sense ( M1 ), comprising currency and demand deposits was increased to 9.1 percent ( yoy ) in September to 10.5 per cent ( yoy ) in October 2013 .
From the press release on page BI , Tuesday , factors affecting the growth slowdown is mainly due to the decline in M2 growth of banking bills to companies and individuals in the form of loans .
This component of growth slowed from 20.5 per cent ( yoy ) in September to 19.2 per cent ( yoy ) in October 2013 .
The growth of banking sector loans slowed mainly in loans to the manufacturing sector and trade, hotels and restaurants , each of which grew 27.3 per cent ( yoy ) and 33.9 percent ( yoy ) , lower than the growth in the previous month respectively respectively 29.3 per cent ( yoy ) and 35.4 percent ( yoy ) .
From the monthly growth , credit to the manufacturing industry in October 2013 fell by 1 percent even ( mtm ) compared to the September 2013 .
Bank Indonesia rate of M2 and credit growth slows in October 2013 in line with the slowdown in domestic economic activity and rising interest rates.
Rupiah time deposit rates in October 2013 for a period of 1 and 3 months , respectively recorded 7.1 percent and 7 percent , an increase over the previous month interest rates respectively by 6.7 percent and 6.6 percent .
Mortgage interest rates are also on an upward trend , although not as high as the increase in the funds rate , from 12.2 percent in September to 12.3 percent in October 2013 .
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